Wayfinding Financial LLC Acquires New Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Wayfinding Financial LLC purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,854 shares of the business services provider's stock, valued at approximately $839,000.

A number of other institutional investors have also modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in Automatic Data Processing in the fourth quarter valued at about $342,942,000. Proficio Capital Partners LLC increased its holdings in Automatic Data Processing by 41,710.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,090,422 shares of the business services provider's stock worth $319,199,000 after purchasing an additional 1,087,814 shares during the period. Holocene Advisors LP purchased a new position in Automatic Data Processing in the third quarter worth approximately $160,920,000. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Automatic Data Processing by 332.3% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider's stock valued at $172,497,000 after buying an additional 479,145 shares during the last quarter. Finally, Amundi lifted its stake in Automatic Data Processing by 16.8% during the fourth quarter. Amundi now owns 3,120,039 shares of the business services provider's stock worth $910,972,000 after purchasing an additional 449,431 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company's stock.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Jonathan S. Lehberger sold 2,324 shares of Automatic Data Processing stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total value of $704,869.20. Following the completion of the transaction, the vice president now directly owns 3,063 shares in the company, valued at $929,007.90. The trade was a 43.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Brian L. Michaud sold 362 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the sale, the vice president now owns 13,706 shares in the company, valued at $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,951 shares of company stock valued at $1,762,074. Company insiders own 0.21% of the company's stock.

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Automatic Data Processing Stock Up 0.2 %

NASDAQ ADP traded up $0.49 during trading hours on Tuesday, reaching $299.38. 1,474,794 shares of the company traded hands, compared to its average volume of 1,461,828. The company has a 50 day moving average of $303.41 and a two-hundred day moving average of $295.91. The stock has a market capitalization of $121.98 billion, a PE ratio of 31.22, a PEG ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $322.84. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. As a group, equities analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Friday, March 14th. Automatic Data Processing's dividend payout ratio is presently 64.23%.

Wall Street Analysts Forecast Growth

ADP has been the subject of several research reports. Royal Bank of Canada reissued a "sector perform" rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, January 30th. Jefferies Financial Group raised their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a "hold" rating in a research report on Thursday, January 30th. UBS Group upped their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. Barclays raised their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Finally, StockNews.com cut shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $296.18.

Automatic Data Processing Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.